AAP

Western Australian police officers will take immediate industrial action over the government's "pathetic" pay offer, says their union.

Western Australia's corruption watchdog could increasingly be corrupted if the government extends its role into investigating organised crime, a parliamentary report has found.

A leading business lobby group is demanding the Reserve Bank hold off raising interest rates, saying it would be "devastating" for a manufacturing sector that is in a slump.

The federal government won't risk prime farming land with its carbon farming plan, parliament has been told.

Telstra Corporation chief executive David Thodey says it is not appropriate to answer questions about the national broadband network (NBN) amid reports the telco and government are close to a deal.

The Australian stock market opened more than one per cent lower as the worsening Greek debt crisis and a US economic slowdown weighed on investor sentiment.

Gold miner St Barbara said it was reviewing the merger agreement between Catalpa Resources and Conquest Mining and would consider its position.

The Australian dollar is trading more than one US cent lower this morning, as traders worry that Greece's debt crisis could spill over to other economies.

Flights in and out of Perth are resuming as a volcanic ash cloud veers south and out to sea.

US stock markets fell sharply on Wednesday, more than wiping out the prior day's gains, as investors worried about weakening economic data and Greece's escalating debt crisis.

Stevens defies critics on rate rises – The Fin; Electricity tsar lashes Garnaut – The Aus; Green tick for $25b gas project - The West; WA ready with cattle ban plan – The Fin; $1.2b Catalpa deal thwarts bid – The West

The federal parliament’s sole veterinarian says Australia faces its own animal welfare disaster if 150,000 cattle can’t be exported.

THE science-fiction film Moon portrayed a future where the lunar surface had become a mine site and driverless machines extracted helium-3 for energy.

Dulux' manufacturing facility in O'Connor has just hit the market and is expected to generate serious interest from developers and owner occupiers, according to its vendors.

The ash cloud from a Chilean volcano will circumnavigate the globe a number of times, but Australia should escape a repeat of the chaos that shut down air services this week.

The Australian stock market closed weaker after a "hawkish" speech from RBA governor Glenn Stevens and as jumpy investors ignored a positive US lead.

Agricultural chemicals supplier Nufarm says a writedown of the value of a disputed claim for money will cut its annual operating profit by $21 million.

At least 14 West Australian government agencies don't have adequate systems in place to detect or respond to a cyber attack, the state's auditor general has found.

A clear majority of Australians want the nation to move towards 100 per cent renewable energy, a major survey suggests.

A Perth accountant has been charged with 130 counts of gaining a benefit by fraud after allegedly making false loan applications totalling millions of dollars.

The outlook for interest rates will be widely seen as dependent on the next inflation figures, after a speech by Reserve Bank of Australia governor Glenn Stevens on Wednesday.

Nearly 11 years on since it was first introduced the federal grant for first home owners still stands at $7000, even though the average house price has more than doubled in that time.

A record 14.3 million hectares of wheat is expected to be planted for the winter crop, a seven per cent increase on the previous season, the federal government's commodity forecaster says.

Consumer sentiment has fallen to its lowest level in two years, as households worry that interest rates will rise soon, a survey shows.

Australian shares have opened slightly weaker, despite positive leads from the US and Europe, after a strong day of local trading yesterday.

Qantas Airways shares slumped to their lowest level since May 2009 after the carrier said that weak domestic conditions prompted a cut in capital expenditure and fewer planned aircraft deliveries for 2011/12.

Rio Tinto says it will accelerate its Pilbara iron ore expansion program by spending $US350 million ($A329 million) on early works and procurement.

Mining magnate Andrew Forrest does not mind paying higher royalties to the West Australian government, saying they help the salaries of teachers and nurses and build roads.

The Australian dollar is trading half a US cent higher this morning, after better than expected Chinese and US data encouraged investors into riskier investments.

US stock markets jumped more than one per cent on Tuesday, giving investors some relief after a six-week losing streak culminated in a brutal sell-off last week.

Budget pain hits state reforms – The Fin; Gillard support hits record low – The Aus; Non-mining business still battling – The Fin; Grubb investors set for belated windfall – The West; Top WA men named – The Fin

The two-speed economy is alive and kicking, albeit with only one of its legs.